Goldman names Denis Coleman as new CFO starting next year for retiring Stephen Scherr

Goldman Sachs named Denis Coleman the bank’s new chief financial officer beginning next year.

Coleman, the current co-head of the firm’s Global Financing Group, will take over for Stephen Scherr, who is stepping down as CFO at year-end, Goldman said Tuesday in a release.

“Denis has consistently proven himself through his strong judgment and operational capability across roles of increasing responsibility and we look forward to his contributions to the firm as Chief Financial Officer,” Goldman CEO David Solomon said in the release.

Scherr, 57, was made CFO by Solomon in 2018, joining the CEO’s inner circle of top firm leaders. Before that, Scherr led the firm’s efforts to develop its retail banking business, Goldman’s first foray into the consumer realm. He joined Goldman in 1993 as an investment banking associate and was steadily promoted to roles including head of the financing group, head of the firm’s Latin American business and chief strategy officer.

This is a developing story. Check back for updates.